The impending crisis : $b conditions resulting from the concentration of wealth in the United StatesBouroff, Basil A.
History
The impending crisis : $b conditions resulting from the concentration of wealth in the United States
Bouroff, Basil A.
Trusts, Industrial; United States -- Economic conditions; Wealth
These differences in conclusions indicate that the national wealth is
very strongly concentrated with a few persons, and that in order [SN:
WEALTH IN THE HANDS OF FEW.] to obtain the nominal average of $148 worth
of wealth to every poor person, one has to move the line of division of
wealth so far up toward the wealthy few as to include nearly all the
people among the masses of the poor. While, without this unfair moving
of the line, more than 30-millions of the population would have no real
wealth at all. For $56,907,454,798 worth of the wealth actually belongs
to one-eighth of the population, or to 7,827,782 individuals, including
men, women and children. And among these, we are told, “1 per cent of
the population held more wealth than the remaining 99 per cent held
together.”[25] So that the day is not far off when these 99 per cent of
the people shall absolutely depend upon the 1 per cent of the rich and
far reaching.
Regarded as the Logical Premises of the life of the nation, this
extremely unequal distribution of wealth cannot be other than extremely
dangerous for the existence [SN: THE SITUATION IS DANGEROUS FOR THE
FUTURE.] of the nation as it is, for the logic is inexorable: Whatever
you have sown, that shall you also reap, is a saying that cannot be
mistaken either by the wealthy or the poor. The situation indicates that
this apparently polished nation presents only an enormous working
mechanism, made not of steel and iron, but a mechanism of wood, which
may be broken into pieces at any future time, in consequence of any
insignificant occasion, if it continues to work heedlessly on with a
wrong speed against itself. A rational regulation of its speed is
absolutely necessary, in order to save it from an otherwise unavoidable
destruction. A civilized nation cannot live long without a highly
intelligent regulation of all its working principles. For, to live a
national life is not to play a childish game.
Yes, we have examined the above conclusions, but we have not realized
the entire truth of the situation. For we were told that, [SN: THE
SITUATION IS WORSE THAN INDICATED.] “Less than half the families in
America are propertyless,”[26] which clearly means that the distribution
of wealth among the people is much worse than we have a right to suppose
upon the basis of the stated conclusions of 1890. As these conclusions
differ from each other in contents, we have the moral right to
re-examine the varying statistical tables that testify of the same
distribution of wealth. And we have a right to find the naked truth in
the mass of materials we have, and to look it straight in the face, if
we can.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account